FAIRVEST GOES FOR A SECONDARY LISTING ON A2X

FAIRVEST Property Holdings, a real estate investment trust with a R2 billion market capitalisation, will have a secondary listing on A2X Markets on October 31. The Fairvest property portfolio consists of 42 properties in the main provinces, with more than 243 000m² of gross lettable area. Its focus is mainly the retail sector, weighted toward nonmetropolitan shopping centres servicing the lower LSM market in high growth nodes close to commuter networks. Fairvest chief executive Darren Wilder said they were pleased to complement their primary listing with a secondary listing on A2X. “Not only does this encourage competition and align with global best practice, but we view it as an opportunity to attract potential new investors and broaden our shareholder base,” he said, A2X chief executive Kevin Brady said Fairvest Property was the fourth company from the property sector to be available for trade on the A2X platform. Growthpoint Properties, Equites Property Fund and NEPI Rockcastle plc are already listed on the exchange. “We continue to see increasing depth from the various market sectors as more companies capture the benefits that a secondary listing offers,” he said. The Fairvest listing will bring the number of securities available for trade on A2X to 32, with a combined market capitalisation of about R2 trillion. A2X boasts listings from many other sectors, including media, mining, banking, retail, FMCG, financial services, insurance, healthcare and telecommunications. It has recently listed two of Investec’s exchange traded notes as well as three Absa exchange traded funds.